Albuquerque : State Data and Comparisons : Data-Z

Albuquerque, NM

TIA Data

2023 Financial State of Albuquerque (Released 02/27/2024)

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Albuquerque owes more than it owns.

Albuquerque has a -$4,000 Taxpayer Burden.™

Albuquerque is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Albuquerque only has $1.1 billion of assets available to pay bills totaling $1.9 billion.

Because Albuquerque doesn't have enough money to pay its bills, it has a -$768.5 million financial hole. To erase this shortfall, each Albuquerque taxpayer would have to send -$4,000 to the city.

Albuquerque's reported net position is understated by $52.2 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.

The city's financial report was released 167 days after its fiscal year end, which is considered timely according to the 180 day standard.